The Obamanator remarked: "I will always be grateful that at a time of great peril for our country, a man of Larry's brilliance, experience and judgment was willing to answer the call and lead our economic team. Over the past two years, he has helped guide us from the depths of the worst recession since the 1930s to renewed growth. And while we have much work ahead to repair the damage done by the recession, we are on a better path thanks in no small measure to Larry's wise counsel. We will miss him here at the White House, but I look forward to soliciting his continued advice and his counsel on an informal basis, and appreciate that he has agreed to serve as a member of the President's Economic Advisory Board."

Translation: The stock market has been up all month, I just gave a telethon yesterday, and it was perfectly coordinated with some BS numbers by NBER & POMO activity by the Fed, so it ain't gonna get much better than this going forward...

Larry Summers, the director of the National Economic Council, will return to a teaching position at Harvard University at the end of the year...

In the interim "lame duck" period, and since he already has the proper costume, it's rumored he'll be kickin' it on the DEVO ('De-Evolution '10) World Tour...

"life's a bee without a buzz... It's going great, til u get stung..."
"And let us not forget to toast
everyone who might have missed the boat
And to everybody else who waits
Til the next one sails in again..."

Whatever Larry... Now that you've JERKED US BACK & FORTH for the 2nd time, don't let the door hit you in the ass as you BEAT IT, back to the Ivory Towers...

The author of this post has apparently parlayed this into an enterprise.

http://www.varickmm.com/

An excerpt:

“I stumbled across Numberfire (I hate the name) from a friend of mine and did some research and saw that they were recently written up on TechCrunch. Numberfire applies data mining and statistical analysis to determine which fantasy football players to sit and/or start each week… they accomplish this by looking at many different data points that affect a players outcome such as the player itself, his team, his competition, and other factors.”

These guys have been looking at the mining solely in relation to FF. The point is to observe the behaviour(s)*. Frankly, it could be ‘fantasy anything’.

Sept. 21 (Bloomberg) -- Payrolls dropped in 36 U.S. states in August, led by Michigan, indicating the labor market will take time to rebound from the worst recession since the 1930s.

Employers in Michigan cut 50,300 jobs last month, the biggest drop since January 2009, figures from the Labor Department showed today in Washington. Texas and California rounded out the three states with the biggest job losses. Joblessness climbed in 27 states, with Nevada reaching a record 14.4 percent rate, the highest in the nation.

I've often found that the stock "projections" numbers that ESPN & YAHOO uses aren't all that great (and find myself deviating from them all the time in setting rosters)...

A suitable example of this is the fact that I've used the MIAMI DOLPHINS defense already in both games this year, and depending on the league scoring parameters, the DOLPHINS D is, at the moment, the #1 ranked fantasy defense...

Knowing this before the draft, I didn't waste my time taking a D/ST in the regular draft rounds because I knew this would fall to me easily in the last round... Instead, I was able to bolster my squad by taking a better player (or even "sleeper") earlier on...

The Dolphins were playing the hapless Bills in week 1, and then got a chance to step in front of some Brett Favre interceptions in week 2...

I'm starting them this week as well (as I expect Marck Sanchez to revert back to form and toss a few picks as the Jets travel down to Miami)...

One drawback to that site in the link is that most FF leagues are CUSTOM...

The league commissioner sets the parameters on various styles of play...

Because everyone, during the week, looks at the COMPUTER "match-up" for the game...

So let's say you had CHRIS JOHNSON on your team... (or look at it the other way - let's say you were FACING Chris Johnson - which CV was, in 2 leagues in week 2)... Even though they were playing the Steelers, CJ was "projected" for around 19 fantasy points...

So in the MATCHUPS - I had to stare at the screen all week and figure I was going to lose to teams that were going to score 100+ points (because CJ was coming up with 20 of them)...

...Is it possible the term double dip will take over the lead position in the jargon race from unexpectedly?

Sept. 22 (Bloomberg) -- European industrial orders declined more than economists forecast in July, led by a drop in capital goods such as factory machinery.

Orders in the 16-nation euro area decreased 2.4 percent from June, when they rose 2.4 percent, the European Union’s statistics office in Luxembourg said today. Economists had forecast orders to drop 1.4 percent in July, the median of 17 estimates in a Bloomberg News survey showed. From a year earlier, July industrial orders jumped 11 percent after rising 23 percent in June.

European manufacturers may curb output and hiring as a cooling global economy threatens to undermine exports just as governments step up spending cuts. The European Commission on Sept. 13 forecast the region’s recovery would show a more “moderate” pace in the second half. In the U.S., the world’s largest economy, industrial output weakened in August.

“The global economic dynamic is already past its peak,” said Andreas Scheuerle, an economist at Dekabank in Frankfurt. “We’ll see some cooling in the second half along with weaker output growth even if we’re still far from a double dip.”

I'm thinking this morning will be a good time to close out those October GDX calls. Too bad I'll be using any profits to replace the diamond that fell out of my engagement ring yesterday. I won't be around much since I'll be spending most of the day crawling around on the floor hoping that against the odds I find the darn thing.

jesse's post on summers' departure:"After the November elections. Bloomberg television is already lobbying for a Wall Street or otherwise financially connected CEO to take his place."Is Bernie Madoff eligible for a work-release program?"

jesse posted a 9/21 'consumer metrics institute' report:NBER: Double Dip or Banana Split?"We founded the Consumer Metrics Institute precisely because we felt that the economic bureaucrats in Washington were out of touch with the economy that most of us live in. They remind us of those patients sitting in wheelchairs in the "memory impaired" wards at nursing homes: with crystal clear recall of 1937 but no clue about what they ate for breakfast. Thank you, NBER, for making our case.""In contrast, we measure what consumers are actually doing on a daily basis.""...if the 2010 contraction we are now monitoring in consumer demand for discretionary durable goods scales to the full economy as faithfully as the "Great Recession (of 2008)" did, the second dip will, at minimum, be 33% more painful than the first dip and will extend at least half again as long. This, of course, assumes that stimuli comparable to those seen in 2008-2009 will be available to cause such a recovery during 2010-2011. Furthermore, the upturn that we measured in 2008 started when unemployment was still at a 6.1% rate, substantially better than we are observing now. Absent fresh consumer stimuli and dropping unemployment rates, the consumer demand contraction we are witnessing now could very well linger even longer"

something great just happened. I never had a snuggie but I did want one, as I mentioned I almost bought one several times and always ended up putting it back. Well, someone from the office gave me one today for my b-day, and it's a PSU snuggie!

good morning! (not so much! what a shocker to me to see the dollar like this.. would someone pay back some debt already? without creating new debt? ) but that is what has been happening.. new debt taken on at lower rates to pay off old debt.. no deleveraging yet.. : (

A majority of Americans think cutting the deficit is a better way to strengthen the economy than government spending, according to a Reuters Ipsos poll released on Tuesday. The poll found that 57 percent support deficit cuts while the economy is struggling.

...'Mericans are soooo close, "missed it by that much"....

..Were it a cancer, you wouldn't decrease it, you would elimate it...cold steel, I believe is the term.

I got a mix going into the slow cooker this afternoon so I'll get to eat that later, it's going to be good, might take an early afternoon and hang with wifey the rest of the day, we'll see how things shape up after 1 or so.

not sure if you caught my link this morning, but re: Nics chart, look at some other things line up right around her objective, these come from sugarman at Dan's site:

"Your 1158 around Friday is interesting!

SPX (10 point per day chart)

Tomorrow is the 57th trading day from the 1010.91 bottom. Starting at "0" on that day, the 2x1 time angle advancing up 20 points per day is at 1140 tomorrow, 1160 on Thursday, etc..

It is interesting that tomorrow is the 104th trading day from the 1219.80 top. Counting up 10 points per day from "0" is 1040 tomorrow. Remember the triple bottom was at this level earlier this month. This is a "Death Angle" and is 100 points below the market price currently.

If the market continues higher.....

The high price of 1576.09 was on Oct 11, 2007. Then 648 trading days later the market topped at 1219.80 for a difference of 356.29 points. Tomorrow is the 742nd trading day from the Oct 07 top. The 1576.09-1219.80 downtrendline is at 1161.72 tomorrow, 1161.16 on Thursday.

The 2x1 "time angle" described above will cross the downtrend line early Friday morning in the 1160.50 area."

$ES_F $NQ_F #futures $SPX By Top NotchHow about that initial move higher. Ouch!! The s&p opened at 1133.20-1134.50 and really never stopped until a high of 1139.70, just missing that all important upsdie # price of 1140.10. It then does an about face at 9:00a.m.CT and made a new low at 1132.50, holding the all important pivotal level of 1132.20. Now the update says a trade under 1131.60 will continue a move lower as long as its by 10:00a.m CT and it follows thru with new globbex lows. Use caution with this idea. This future is acting very resilent. The nasdaq opens at 1977.00-1979.50, makes a quick low at 1976.50 and blasts off to the 1994.00 price, breaching that daily pivot price of 1898.25 by 6 handles. Now look what's happening. It did retest its opoening range and saw a bounce to the 1983.50, which is its pivotal price, but it needed to take out the globex low of 1974.50 to further erode. This future didn't!! Now watch the 1983.50 price once again. Overall these futures are in need of more downside. The bond opened substainily higher this morning at 132.27 regular session, 132.06 globex. It lead to a high of 133.01, followed with a low of 132.09, which held the globex open. They have since bounced to a retest of the regular session price of 132.27. New highs will test the 133.15 and a trend line price at 133.23. $$

yeah I just don't know, but I do think China is somehow involved, I'm not sure this war will be all about combat, I keep hearing reports of china hacking into our electrical grid....as an example of what I mean.

I see Jeter put his penthouse up for sale in NYC, that'd go well with your new beamer....I think he wants 15 or 20 million....lol.

alan jackson from country music listed his ranch in TN recently for 38 million, sits on 140 acres, I looked at the property, I don't even want to know what the monthly maintenance would run, it has to be insane.

Given the similarity of price and time exhibited by each leg of a symmetrical, is that pattern more likely to drift sideways rather than trend up or down? Answer: From personal experience, the reverse is more common. Symmetricals are so time-consuming (relatively speaking) that it is nearly impossible for a market to hesitate long enough to complete the entire pattern during one, sideways period. As a result, Symmetricals tend to have a clear, positive or negative drift. The one's I've seen have exhibited a decided upward or downward bias, which makes them difficult to identify, at least initially. Due to their "trendy" nature, they can be difficult to identify early in their development. But, after a Symmetrical passes its halfway point, the extreme price/time similarities that exist between all "same direction" waves makes it difficult to label any other way.

I wish just one of you were in my office right now, I've been doing my annual compliance training since early this morning, you'd be amazed at some of this stuff, and the things advisors do that get them in trouble.

Sept. 22 (Bloomberg) -- Treasury Secretary Timothy F. Geithner said U.S. banks will be able to adapt to tougher international safeguards by tapping future profits, rather than curtailing lending and choking off the economic recovery.

I think Neely might be even smarter than Prechter, dude is on another level. I told Andy the other night I'm a little upset with myself I waited so long to get his book. I wouldn't suggest to anyone getting into waves to only look at orthodox method now that I know this.

guess i should pick a dto target and put a limit sell up for a few k.. sighing.. son stomping around on stone floors with interview shoes on (ferragamo, cv).. it about to drive me out of my mind. EXCEPT WOW he looks so handsome.. just had me check his tie.. Hugo Boss suit.. geeze.. The other son may now have pneumonia.. : (

"In a credit-driven monetary system, you can only get "inflation" (in the truest sense, where it flows through to wages and prices, thereby debasing - that is, helping - people pay down indebtedness) if there is credit expansion.

But when the limit of credit expansion is reached (which is known - when "QE" by whatever name is initiated, you've reached that point, as you are then artificially trying to create credit expansion that you are unable to stimulate otherwise) further machinations of this sort do nothing other than bankrupt the population."

Herb Greenberg is talking about that etf issue that Nic's weekend article discussed. Interestingly, Kid Dynamite had a long post on kind of the same issue...it seemed like Herb was almost reading some of it on the air. Back to diamond quest.

C, It was a tough choice, I thought on it a lot last night....I like Charles a lot even though a lot of people aren't too big on him, at any given time with his speed he could really break a long one, I just think for right now the trade I made was the best I could do, we'll see if it works out that way.

zh-In other words, following retail's departure, now hedge funds themselves are starting to boycott the market until some semblance of normality returns. We hope the SEC, and the other idiot regulators realize this before their inactivity chases everyone except a few computers and primary dealers out of the market.

Wednesday, September 22nd, 2010, 12:13 pmThe Securities Exchange Commission Monday charged a Minneapolis attorney and two San Francisco promoters with fraud after they failed to disclose the financial collapse of a real estate lending fund to relevant investors.http://www.housingwire.com/2010/09/22/sec-charges-4-with-fraud-after-failing-to-disclose-real-estate-investment-fund-collapse

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This blog should not be interpreted as investment advice of any kind.The authors are NOT representing themselves CTAs or CFAs or Investment/Trading Advisor of any kind.The authors may or may not trade in the markets discussed.The authors may hold positions opposite of what may by inferred by this blog.The information contained in this blog is taken from sources the authors believes to be reliable, but it is not guaranteed by the authors as to the accuracy or completeness thereof and is presented here for information purposes only. Commodity trading involves risk and is not for everyone.

Fictional Character Quote of the Day:

I guess it comes down to a simple choice. Get busy living or get busy dying.

- Andy Dufresne

"The Shawshank Redemption"

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This Blog's primary focus is on trading based upon technical analysis. It is run by "AmenRa" and "AndyT," quasi-anonymous traders who employ technical analysis to assess market conditions and trading opportunities. AmenRa utilizes 3LB techniques, Moving Averages and Fibonacci sequences. AndyT's analysis relies primarily on "Wave Theory" and Fibonacci sequences. The Comments Section is uncensored and open to the public. Please try and adhere to the "Blogger Policy."